The file_regex in the Make Build System (in $SUBLIME_DIR/Packages/Makefile/Make.sublime-build) is subtly wrong and it sometimes breaks the Next Result/Previous Result commands. The problem is, the regex matches more than it should. For example, in the project I'm currently working on, the makefile sometimes produces output like this:

so the first capturing parentheses will match o src/Bar.cpp\nsrc/Bar.cpp. It will then try to interpret it as a file path which is invalid, so the Next Result / Previous Result commands won't work. The fix is simple, just tell the regex to not match newlines: